FLIR systems were soaring 6.2% to $26.50 in afternoon trading. FLIR has gained 19% in the past 12 months.
Raymond James analysts, led by Brian Gesuale, raised FLIR's price target to $33.00 after reviewing the firm's improving business dynamics and expected asymmetrical sales growth. The report deemed government cut backs will spur FLIR's growth as they are now encouraged to look for new sources of revenue.
The Raymond James analysts expressed confidence in domestic growth in sales and stability in the European markets. The report also indicated that the Raymarine division, which creates radars, radios, autopilot devices and GPS models, is expected to expand in the future.The Wilsonville, OR- based company produces cameras and dictators that utilize thermal imaging, night vision and stabilized camera systems. FLIR System has contracts with Mercedes and the U.S. military and government. It is expected that integrating detectors into their Digimerge security cameras will move even more revenue. In December 2012, FLIR acquired Lorex for $60 million or $1.32 a share. Lorex, a Canadian firm, focused on high tech home security cameras. The analysts see lower Research and Development funds in the future but predict increased product development and integration focused on past investments, like Lorex, and existing systems. FLIR Systems has a market cap of $3.4 billion. FLIR recently changed CEOs. Earl Lewis, 69, stepped down as president and CEO after 13 years. Lewis was replaced by FLIR's President of the commercial system division, Andrew Teich.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV